IVF Services Global Market to 2030: Rising Demand For Mitochondrial Replacement Therapies
DUBLIN, Oct. 29, 2021 /PRNewswire/ -- The "IVF Services Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global IVF services market. It covers three five-year periods including, 2015 to 2020, termed the historic period, 2020 through 2025, the forecast period, and 2025-2030 the forecast period.
The global IVF services market is expected to grow from $12,746.9 million in 2020 to $13,782.0 million in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the service providers resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to grow at a CAGR of 11.5% from 2020 to reach $21,970.6 million in 2025. The global IVF services market is expected to reach $37,367.2 million in 2030, at a CAGR of 11.2%.
Growth in the historic period resulted from increased increasing prevalence of PCOS condition, increased cases of the premature ovarian failure, increasing rate of male infertility and insurance coverages to IVF procedures. Factors that negatively affected growth in the historic period were high cost of IVF services, low rates of IVF success, congenital abnormality occurrence and risks and side effects associated with IVF. Going forward, rising infertility rate, technological developments regarding fertility treatment, growing adoption of IVF services to aid in pregnancy, rising number of same sex couples, increase in number of fertility clinics, rise in disposable income and late parenthood will drive growth. Factors that could hinder the growth of the IVF services market in the future include inadequate reimbursement policies, stringent government inspection and ethical concerns related to IVF.
The IVF services market is segmented by cycle type into fresh IVF cycles (non-donor), thawed IVF cycles (non-donor), and donor egg IVF cycles. The fresh IVF cycles (non-donor) market was the largest segment of the IVF services market segmented by cycle type, accounting for 44.6% of the total in 2020 and is expected to be the fastest growing segment going forward, at a CAGR of 11.8% during 2020-2025.
The IVF services market is also segmented by service provider into fertility clinics, hospitals, surgical centers, and clinical research institutes. The fertility clinics market was the largest segment of the IVF services market segmented by service provider, accounting for 75.1% of the total in 2020 and is also expected to be the fastest growing segment going forward, at a CAGR of 12.0% during 2020-2025.
The IVF services market is also segmented by end-user into fertility clinics, and hospitals & other settings. The fertility clinics market was the largest end-user segment of the IVF services market segmented by end-user, accounting for 75.1% of the total in 2020 and is also expected to be the fastest growing segment going forward, at a CAGR of 12.0% during 2020-2025.
Western Europe was the largest region in the global IVF services market, accounting for 32.6% of the total in 2020. It was followed by North America, Asia-Pacific, and then the other regions. Going forward, the fastest-growing regions in the IVF services market will be Eastern Europe, and Asia-Pacific, where growth will be at CAGRs of 14.0% and 12.1% respectively. These will be followed by North America and South America, where the markets are expected to grow at CAGRs of 11.7% and 11.1% respectively, during 2020-2025.
The IVF services market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 2.22% of the total market in 2020. Major players in the market include Monash IVF Group, Virtus Health Limited, Chelsea and Westminster Hospital NHS Foundation Trust, Genea Limited, Boston IVF, and others.
The top opportunities in the IVF services market segmented by cycle type will arise in the fresh IVF cycles (non-donor) segment, which will gain $4,250.6 million of global annual sales by 2025. The top opportunities in the IVF services market segmented by service provider will arise in the fertility clinics segment, which will gain $7,276.6 million of global annual sales by 2025. The top opportunities in the IVF services market segmented by end-user will arise in the fertility clinics segment, which will gain $7,276.6 million of global annual sales by 2025. The IVF services market size will gain the most in the USA at $2,660.1 million.
Market-trend-based strategies for the IVF services market include providing mitochondrial replacement therapies to potentially overcome genetic disorders, adopting new technologies like fertility freezing and provide and better solutions to people seeking for fertility treatments., offering PGT-A screening or testing program to potentially increase the chances of pregnancy, using artificial intelligence to reduce costs and time, implement blockchain based apps to curate data to their users and adopting advanced technologies such as time-lapse microscopy for safe, uninterrupted and constant embryo observation. Player-adopted strategies in the IVF services market include developing new and innovative techniques to help patients, delivering new advancements in infertility treatments through collaborations, focusing on innovation in services, and expanding operational and business presence in the market through strategic collaboration and acquisitions.
Amidst the unprecedented outbreak of corona virus, governments across the world are advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic. The global outbreak of COVID-19 has indirectly affected the IVF services market, as applications in pharmaceutical companies witness a major downtrend. The COVID-19 pandemic had posed several unique concerns and potential risks to pregnant women. Although no professional societies had recommended that women avoid conception during this time. Several professional organizations had recommended a moratorium on infertility services including both, medically assisted reproduction and assisted reproductive technology, out of caution, several professional societies around the world recommended suspending therapy for infertility services initially soon after the World Health Organization (WHO) declared COVID-19 infection to be a pandemic.
To take advantage of these opportunities, the publisher recommends the IVF services companies to focus on staffing and direction, Identification of patients and traceability of their reproductive cells, focus on emerging markets and countries with high mean age at first birth, offer market-based pricing, bundled payments, and focus on partnering with healthcare providers, access to affordable services, patient referral system, reviews, priority to critical cases, technology-based interventions in the treatment of infertility among other strategies.
Key Topics Covered:
1. IVF Services Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. IVF Services Market Characteristics
8. IVF Services Market Trends and Strategies
8.1. Rising Demand For Mitochondrial Replacement Therapies
8.2. Lab-Grown Eggs
8.3. Preimplantation Genetic Testing For Aneuploidy Screening (PGT-A)
8.4. Artificial Intelligence in Intra Cytoplasmic Sperm Injection (ICSI)
8.5. Integration Of Artificial Intelligence For Embryo Selection
8.6. Blockchain-Based IVF Service App
8.7. IoT In In Vitro Fertilization (IVF) services
8.8. Technological Advances
9. Impact Of COVID-19 On The IVF Services Market
10. Global IVF Services Market Size and Growth
11. Global IVF Services Market Segmentation
12. IVF Services Market, Regional and Country Analysis
13. Asia-Pacific IVF Services Market
14. Western Europe IVF Services Market
15. Eastern Europe IVF Services Market
16. North America IVF Services Market
17. South America IVF Services Market
18. Middle East IVF Services Market
19. Africa IVF Services Market
20. Global IVF Services Market Competitive Landscape
21. Key Mergers and Acquisitions In The IVF Services Market
21.1. Boston IVF Entered Into A Partnership With Ohio Reproductive Medicine (ORM)
21.2. Nova IVF Fertility Acquired Southend Fertility & IVF
21.3. The Fertility Partners (TFP) Acquired The Toronto Institute For Reproductive Medicine (TTIRM) and ReproMed
21.4. The Fertility Partners Acquired Aurora Reproductive Care and Kelowna Regional Fertility Centre (KRFC)
21.5. Fresenius Helios Acquired Eugin Group
21.6. CARE Fertility Acquired Nuffield Health's Woking Assisted Conception Service (ACS)
21.7. IVF Life Group Merged With Reproductive Health Group (RHG)
22. IVF Services Market Opportunities and Strategies
23. IVF Services Market, Conclusions and Recommendations
24. Appendix
Companies Mentioned
- Monash IVF Group
- Virtus Health Limited
- Chelsea and Westminster Hospital NHS Foundation Trust
- Genea Limited
- Boston IVF
For more information about this report visit https://www.researchandmarkets.com/r/pduf4u
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